https://www.taxtmi.com/caselaws?id=306955 The Tribunal ruled in favor of the assessees, quashing the notices issued under section 148 and canceling the assessment orders made by the Assessing Officer. The Tribunal found that the Assessing Officer did not have a valid "reason to believe" that income had escaped assessment as required by law. Additionally, the Tribunal held that the jurisdictional limits for issuing notices beyond four years were not met in the cases where proceedings were initiated beyond the prescribed period. en-us Fri, 27 Apr 2012 00:00:00 +0530 Thu, 09 Mar 2023 14:22:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306955 The Tribunal ruled in favor of the assessees, quashing the notices issued under section 148 and canceling the assessment orders made by the Assessing Officer. The Tribunal found that the Assessing Officer did not have a valid "reason to believe" that income had escaped assessment as required by law. Additionally, the Tribunal held that the jurisdictional limits for issuing notices beyond four years were not met in the cases where proceedings were initiated beyond the prescribed period. Case-Laws Income Tax Fri, 27 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306955